mTraks, the online music community and digital music marketplace, announces its public beta launch and the $550,000
it has raised in angel funding represented by Wilson, Sonsini, Goodrich and Rosati.
mTraks offers music for sale on a per track download as well as through a subscription that costs about $10 monthly. All of mTraks' content is offered in an unprotected mp3 format, working on all mp3 compatible players. mTraks has a reported 6,000 independent record labels with 750,000 songs licensed from these labels and music acts from around the world.
The service is free for bands and musicians looking to grow their online presence. Bands and labels will soon be able to sell directly on mTraks, and tools will include sales reporting and booking aids. Hopefully the recent funding will go towards better music discovery features, leveraging the community to find songs, and creating some widgets. Can you have an online music community these days without them? Competitors include Snocap, BlastMyMusic and Stage.fm, among others in this rather crowded space.
In other digital music news, Amazon announced its upcoming digital music store today.